Royal Caribbean price target raised to $240 from $210 at BofA

BofA analyst Andrew Didora raised the firm’s price target on Royal Caribbean (RCL) to $240 from $210 and keeps a Neutral rating on the shares. BofA aggregated credit and debit card data show that monthly cruise spending increased 8.3% year-over-year in October, notes the analyst, who raised price targets across the group after the post-election bump higher in valuation multiples. Industry fundamentals remain solid and election results are likely to bolster consumer strength further, the analyst tells investors.